New energy scenarios highlight the importance of natural gas
The importance of natural gas for keeping energy affordable, reliable and sustainable in the decades ahead has been highlighted in the BusinessNZ Energy Council (BEC)’s future scenarios released today, says the Petroleum Exploration and Production Association of New Zealand (PEPANZ).
“The electrification of transport and industry can lower emissions but to do this we need reliable and affordable electricity. Natural gas will play a crucial role in achieving this by backing up renewable electricity sources which are susceptible to weather events,” says PEPANZ spokesman Phil Rennie.
“Energy security is crucial to New Zealanders and this is a key advantage of natural gas highlighted in the report. Natural gas peaking power is not subject to weather variabilities which means we can reliably keep the lights on and showers hot.
“One of the two scenarios shows the need to import LNG by 2040. Surely producing our own natural gas would be a much better option. If neither are wanted, what will we use to power New Zealand homes and export industries?
“There is also a role for carbon capture and storage under both scenarios. This technology is a reality around the world but we need a regulatory regime to specifically enable it here in New Zealand.
“There is no doubt the energy resources we use in the future will change, but this research highlights the importance of not closing off options or trying to pick winners.”